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IAM IAM-Certificate Exam Syllabus Topics:

SectionWeightObjectives
Principles of Asset Management33%- Asset Management Fundamentals
  • 1. Value Realisation
  • 2. Asset Management Objectives
  • 3. ISO 55000 Principles
  • 4. Lifecycle Concepts
Finance and Business Impact17%- Financial and Business Considerations
  • 1. Business Value
  • 2. Investment Planning
  • 3. Performance Measurement
  • 4. Whole Life Costing
Managing Asset Life Cycle Decisions and Activities17%- Lifecycle Management
  • 1. Disposal and Renewal
  • 2. Reliability and Performance
  • 3. Asset Acquisition
  • 4. Operations and Maintenance
Asset Management Policy, Strategy and Planning17%- Strategic Planning
  • 1. Asset Management Policy
  • 2. Strategic Asset Management Plan
  • 3. Governance
  • 4. Objectives and Planning
Assessing and Managing Asset Management Risks17%- Risk Management
  • 1. Compliance and Assurance
  • 2. Criticality Analysis
  • 3. Contingency Planning
  • 4. Risk Assessment

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IAM The Institute of Asset Management Certificate Sample Questions (Q41-Q46):

NEW QUESTION # 41
Which of the following types of information would NOT normally be required for the development of an asset management plan?

Answer: A


NEW QUESTION # 42
In conducting a demand analysis, there are several elements to consider:

Answer: D


NEW QUESTION # 43
Where can a standardised Risk Matrix be found for use within Asset Management Systems aligned to the ISO
55000 series of standards?

Answer: B

Explanation:
The correct answer is B . There is no single standard risk matrix prescribed by the ISO 55000 series for all organizations. ISO 55002 guidance indicates that when addressing risk in asset management, the organization should determine its risk assessment criteria and decision-making criteria in light of stakeholder input, policy, and the organization's own risk attitude. That means the matrix, scales, and thresholds are organization-specific, not universal.
This is fully consistent with IAM/GFMAM practice, because asset management decisions are made within the organization's own context, objectives, risk tolerability, asset portfolio, and stakeholder requirements. A generic matrix found online may be useful as an example, but it is not an ISO 55000 standard matrix. Neither ISO 55002 nor the GFMAM Landscape provides a single mandatory matrix for all asset-management systems.


NEW QUESTION # 44
An asset management plan specifies...

Answer: D

Explanation:
Theasset management plan (AMP)outlines theactions and resourcesrequired to achieve the defined asset management objectives. It includeswhat will be done, by whom, when, and at what cost.
Exact Extract from ISO 55002:2018, Clause 6.2.2 - Asset Management Plans:
"Plans should describe the activities to achieve asset management objectives, identifying resources, timeframes, responsibilities, and associated risks."


NEW QUESTION # 45
Procurement and delivery of the solution to time, cost and quality targets. What phase is it?

Answer: A

Explanation:
TheImplementation Phaseinvolves translating approved asset plans into physical or system outputs. It encompassesprocurement, execution, and deliveryto specification and budget constraints.
* Concept and definition phasesprecede this stage.
* Handoverfollows this phase and deals with asset operational readiness.
Exact Extract from IAM - Asset Management: An Anatomy (v4), Section 3.4.2 - Life Cycle Stage:
Implementation:
"This phase includes procurement, construction, installation, testing, and commissioning of the asset or solution. It is where time, cost, and quality performance is most closely monitored."


NEW QUESTION # 46
......

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